MedXchange is a blockchain-based system to democratize the global medical device industry. The platform will disintermediate the medical device and supplies ecosystem and make it more efficient. MedXchange comprises a platform to facilitate and secure the global exchange of medical devices, supplies and payments, lowering ultimate patient/customer or insurance cost and increasing efficiency. While the system will initially be focused on the medical device industry, it will be sufficiently flexible and scalable to add other categories of regulated health care ecosystems, such as pharmaceuticals, laboratory equipment, and services. Our platform is backed by proprietary, innovative use cases and real world businesses, in addition to our own proprietary cryptomining operations. Transactions on the system will be supported by MedCash (MEDCASH), an Etherium based (ERC-20) token used by users on the MedXchange platform as the exclusive cryptocurrency to conduct transactions, both in-country and globally.
- Who We Are
We are a team of career medical device professionals, regulatory professionals, doctors, allied health professionals, blockchain specialists, academics and business advisors, collectively representing hundreds of years of experience. We are committed and passionate about democratizing the global medical device industry . MedXchange is a blockchain-based system that will disintermediate the medical device and supplies ecosystem and make it more efficient. Our platform facilitates and secures the global exchange of medical devices, supplies and payments, lowering ultimate patient/customer or insurance cost and increasing efficiency. While the system is initially focused on the medical device industry, it will be sufficiently flexible and scalable to add other categories of regulated health care ecosystems, such as pharmaceuticals, laboratory equipment, and services. Initially, the MedXchange platform is backed by proprietary, innovative use cases and real world businesses, in addition to our own proprietary cryptomining operations.
- How?
MedXchange seeks to facilitate and secure the global exchange of medical devices, supplies and payments. The system will democratize the $340 Billion global medical device industry (growing to $435 Billion in 2020) by disintermediating the medical device and supplies ecosystem and making it more efficient, lowering ultimate patient/user or insurance cost in the process. Because of the sensitive nature and requirements of medical devices, existing blockchain distributed systems are not adequate. The goal of MedXchange is to create a blockchain system that can pass the stringent requirements of regulated medical devices by ensuring better data integrity and encryption, and by providing a validation system to ensure the miners running this network are compliant entities.
MedXchange is a dual system platform utilizing a Blockchain protocol for transactions, identity and smart contracts, and with a distributed hash table (DHT) for data storage, managed by a governance system. The Blockchain protocol will be based off of the Ethereum network, and will start with proof of stake (i.e., Casper) and govern the data storage sites.
Most importantly, the system is backed by existing assets and use cases, including a novel, lifesaving medical technology that targets a population in excess of 835 million patients worldwide representing potentially in excess of 10 Billion transactions annually; a pipeline of additional, novel medical technologies and services companies targeted for acquisition also potentially representing billions of transactions annually; and our own proprietary cryptofarming operations in the works.
- Why?
The medical device industry is under major financial distress, in the United States but also globally. Many countries around the world are facing the same intensifying costs of medical devices and supplies and health care in general, as the United States and other countries are trying to address costs by reducing reimbursement rates, establishing price caps, requiring mandatory price reductions, using diagnostic related groups (DRGs), and limiting funds available for medical device purchases. With steeply increasing medical device costs, a secure solution for transparency and cost savings can have a massive impact on society.
- Pre-ICO
MedXchange is the first blockchain-based system for the global medical device industry. According to the US Department of Commerce, the size of the global medical device industry is around $ 340 Billion by 2016, and will grow to $ 435 Billion by 2020. MedXchange will allow suppliers ("Users on the sales side" of the MedXchange platform) to take immediate medical action and secure transactions with patients and end consumers ("buy-side users" on the MedXchange platform), reduce the cost of globally delivered medical supplies and make much needed medical devices more affordable for patients and end users while boosting margins for producers a beleaguered medical device. This will improve the quality of life and save lives, while enhancing the long-term viability and innovative spirit of medical device companies. Transactions at MedXchangesystem will be exclusively facilitated by our MedCash token (MEDCASH). MedCash (MEDCASH) will also be a fund of miners and silo data. Currencies can also be used to activate smart contracts or trades for locks. Also, the hospital,
clinics and GPOs (Group Purchasing Organizations) will be able to implement their supplier contracts at MedXchange as smart contracts that execute on their own. The project is supported by pre-agreed use cases, including a novel, lifetime lifesaving technology that targets a global patient / end-user population of millions of people, potentially representing billions of transaction systems annually. Other use cases are expected to rise quickly. After initial introduction into the medical device industry, MedXchange will also be marketed to other regulated health care ecosystems, such as pharmaceuticals, laboratory equipment and services, as the platform will be developed to be scalable and flexible from the start.
- Token Distribution
55%: Sold; 15%: Team (on vesting schedules); 10%: Co-Sponsor/Use case provider; 1% Pre-white paper supporters; 4% Consultants (on vesting schedules); 5%: Technical tokens for stabilization and partnerships; 5%: Bounties; 5%: Further Development / Liquidity Reserve. In addition, the percentage of tokens the team has will remain at 15% regardless of how many tokens are burned.
- Token Burning
The Company will burn 50% of the MedCash (MEDCASH) tokens over the next 3 years and decrease the MedCash (MEDCASH) supply.
- User Growth
The MedXchange ecosystem will be powered by our cryptographic token called MedCash (MEDCASH), a tradable token granting token holders exclusive access to the MedXchange ecosystem. The MEDCASH token is fully integrated in the MedXchange ecosystem and the participation in all components of the ecosystem will be done exclusively with MEDCASH tokens.
- MINING OPERATION
Medxchange is backed own proprietary cryptofarming operations in the works. The strategic value of our own cryptofarm has multiple elements, not least of which support the Token Burning process over the next 3 years while the MedXchange platform is in the development stage.
Our cryptomining operation will be powered by affordable, renewable and sustainable energy from a hybrid solar park which combines a solar farm that is co-located with a wind farm. We anticipate our solar park to have a capacity of at least 4 MWAC located on a site of no less than 40 acres but probably larger to accommodate future growth and other additional requirements.
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